George H.W. Bush: “That's a good idea. And this morning, you're going to see the result. We've come here to Fredericksburg to sign a new…”

“That's a good idea. And this morning, you're going to see the result. We've come here to Fredericksburg to sign a new piece of legislation. Typical of us--the Washington--it's got the name ``the Small Business Credit and Business Opportunity Enhancement Act.'' But it's going to loosen up credit even more for deserving small businesses. Not only does it increase the levels of SBA loans, it creates new ways of bringing investment to small business owners. It reaches out to women and minority entrepreneurs who want to get started. I've always believed that the best economic program is a job. And this bill gives more Americans the tools to create a job. Now, we're talking about regulation and credit. All that is good. But it won't do it if we cannot help take the monkey, that tax monkey, off the backs of small business. I am for lower taxes. He is for higher taxes. Already we've taken a number of steps to streamline the ways small businesses pay their taxes. One example: Right now, small businesses have to file payroll taxes twice a week. And that's a waste. I've proposed we change it to once a month, so business men and women can get back to the business of running their businesses. Now, the Clinton-Gore tax-and-spend ticket doesn't understand that taxing capital investment is bad. None of our industrial competitors taxes capital gains at our punitive rates. Almost half of all new businesses literally begin at home, when enterprisers convert their own nest eggs into capital. And it is time to reward this initiative. It is time to make us competitive with businesses around the world. It is time to cut that tax on capital gains so these small businesses can thrive. That's my agenda for small businesses: three obstacles, three concrete steps to clear those obstacles out of the way. Now let me just get into the politics here. Where does Governor Clinton stand on small business? It's a strange coincidence, but his plan has three parts, too: tax, tax, and tax. Audience members. Boo-o-o!”